Hospitals outsource more revenue cycle operations

The market for revenue cycle management (RCM) consulting and outsourcing is growing, a new KLAS Research report says. Increasing pressures on hospitals to cut costs, as well as the diversion of hospital resources to Meaningful Use and ICD-10, are among the factors driving the trend, noted the Orem, Utah-based research firm. "What we're seeing in some instances are folks choosing to use outside resources so they can have some more focus on Meaningful Use," said Mike Smith, VP of financial and services research for KLAS, in an interview with InformationWeek Healthcare.